The FIFA World Cup has brought losses to some and wins to others. This is the case of Drake, who lost at least $1.5 million on the tournament final game, and Kalshi – which has, just the opposite, gained 3 million fresh subscriptions during the several-week event.
World Cup Brings in Benefits for the Prediction Market
Kalshi has confirmed the numbers itself, arguing that the platform has gained a user base increase between June 11 and July 19, when the dramatic game of Spain and Argentina was played.
Kalshi also said that the company has achieved a fresh record on the money traded in a single market, with more than $1.2 billion worth of trades placed overall.
While the 2026 FIFA World Cup has proven a boon to the company, much of what has been happening around the platform’s operations in the United States has, in the meantime, raised the stakes over the firm’s long-term prospects.
Michigan has targeted the platform over its use of sports event contracts in recent months and weeks, with Kalshi ordered to stop offering these markets locally.
Kalshi’s Retail Traders Lose Money, Argues a Report
The company has also rebuffed a report that retail users have lost $583 million, claiming that the study has misrepresented key data and not addressed it properly. While the report has likened the platform to a form of a casino, Kalshi has doubled down that it is a neutral intermediary in the matter.
Kalshi also failed to secure a preliminary injunction against a court ruling to stop offering its prediction markets in the Empire State.